5 important things happening in South Africa today
·1 Feb 2018
Here’s what is happening in and affecting South Africa today:
- As Capitec gets the backing from shareholders, the Reserve Bank and global ratings agencies, the attention is now turning on Viceroy and its intentions and possible links to international hedge funds. Some financial analysts expect the negative attention to swing between Capitec and Viceroy for some time to come.
- President Jacob Zuma has submitted new reasons why he should not be charged with fraud and corruption, and the NPA has been given 2 weeks to reach a conclusion on the matter. Zum’s lawyers delivered his representations at 9am on Wednesday night, 3 hours before the deadline.
- The Times reports that the Gupta-linked Trillian was paid R41 million by Transnet for a proposal that was never implemented. The payment was reportedly signed off by Transnet chairperson Linda Mabaso, whose son is a special advisor to Mineral Resources Minister Mosebenzi Zwane.
- While Multichoice has admitted that ‘mistakes were made’ in its dealing with the Gupta-linked ANN7, the company has cleared itself of any wrongdoing. However, many questions still remain, particularly around the group’s previous statements about the deal, and why the amount paid was so high and what happened with the money. Icasa is still going to investigate.
- South Africa’s rand firmed against the U.S. dollar on Wednesday, supported by a weaker greenback and data showing the country’s trade surplus widened last year. On Thursday, the rand was trading at R11.88 to the dollar, R16.86 to the pound and R14.76 to the euro.
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